SEC Chair Atkins Pushes for Tailored Crypto Rules and On-Chain Market Clarity

SEC Chair Paul Atkins outlined a forward-looking regulatory approach to blockchain-based finance on May 9, 2026, signaling the agency's intention to develop clearer rules for on-chain markets. Speaking at the Special Competitive Studies Project AI+ Expo, Atkins said existing securities regulations were built around traditional financial intermediaries but that blockchain protocols increasingly combine these functions into unified automated systems. He outlined four areas for potential rulemaking: the definition of 'exchange' for on-chain trading systems, broker-dealer classifications for blockchain interfaces, clearing agency definitions for on-chain settlement, and regulatory clarity for 'crypto vaults' that offer passive yield. Atkins emphasized that the SEC will not dictate which models firms must use, and renewed his support for the CLARITY Act, which aims to establish a comprehensive statutory framework for digital assets. The Senate Banking Committee is set to hold an executive session on the CLARITY Act on May 14.